8% convertible due Oct. 24, 2014 sold to Asher Enterprises
By Devika Patel
Knoxville, Tenn., Feb. 5 - AnythingIT, Inc. sold a $53,000 convertible promissory note to Asher Enterprises, Inc. on Jan. 24, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 8% note is due Oct. 24, 2014 and may be converted to common stock at 58% of the lowest average three-day market price of the stock for the 10 trading days preceding conversion. The company may prepay the note with a prepayment penalty ranging from 115 to 140.
Proceeds will be used for working capital.
The green technology company is based in Fair Lawn, N.J.
| Issuer: | AnythingIT, Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $53,000
|
| Maturity: | Oct. 24, 2014
|
| Coupon: | 8%
|
| Conversion price: | 58% of the lowest average three-day market price of the stock for the 10 trading days preceding conversion
|
| Call: | At 115 to 140
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Settlement date: | Jan. 24
|
| Stock symbol: | OTCBB: ANYI
|
| Stock price: | $0.03 at close on Jan. 23
|
| Market capitalization: | $744,480
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
